In a world where everything moves at the speed of light, it is possible that some news pass you by. In case you missed some big news during the week, here the ten top stories that you can catch up with.
Skye Bank affirms CBN’s N101b recapitalisation
The much-anticipated lifeline for troubled Skye Bank Plc has finally arrived, with a recapitalization to the tune of over N100 billion.
CBN hikes rates to lift naira, fight inflation
The Central Bank of Nigeria (CBN) on Tuesday raised its benchmark interest rate to 14 percent from 12 percent in move to stabilise the naira, and tame soaring inflation.
‘Recovery plans inadequate to tackle economic slump’
Recovery plans by the Nigerian government are not adequate to tackle economic slump and the citizens will have to live with hard times until next year, according to Bloomberg L.P.
Uproar as CBN takes over bank
They insisted the measure would throw the country into economic instability should the apex bank be allowed to go ahead with its planned directive as the plan was nothing but to take over the 11 banks.
Emefiele, Sekibo reiterate support for small businesses
Besides, it expressed optimism that tapping the potentials of the youths, particularly the entrepreneurial drive and inquisitiveness in them, was vital to the stimulation of sustainable and equitable socio-economic development in the country.
Buhari’s reality check on floating the naira - Part 1
The adoption of a floating exchange rate by Nigeria on June 14 ,2016 was informed by similar challenges faced in the United States on June 2, 1929 when the U.S stock market crashed, triggering the Great Depression.
Senate approves N241bn budget for NDDC, goes on three-week recess
The Senate yesterday approved a total sum of N241 billion as the 2016 Niger Delta Development Commission (NDDC) budget.However, the Upper Chamber adjourned plenary for three weeks and to resume on July 12th, 2016.